Brown Advisory

In the latest episode of CIO Perspectives, Sidney Ahl and Erika Pagel sit down with Dirk Enderlein, Senior Managing Director and Portfolio Manager at Wellington Management, to explore the resurgence of European equity markets and the structural shifts redefining investment strategy today. Brown Advisory has partnered with Dirk and Wellington for over 12 years, and this conversation offers a deep dive into the evolution of his disciplined, bottom-up philosophy—shaped by lessons from the tech bubble that continue to guide his thinking on growth, competition, and valuation. The discussion spans high-conviction ideas in certain industries – cements, defense, banking – and examines how regulation, consolidation, and fiscal investment are reshaping the investment landscape. It also touches on tariff dynamics, AI-driven infrastructure demand, and the shifting role of European staples and health care in a post-pandemic world. Listen here or wherever you get your podcasts: https://lnkd.in/gukP5KHR

As market leadership broadens and valuations diverge, U.S. small-cap equities are regaining attention for their diversification benefits, expanded opportunity set, and long-term growth potential. Their innovation, particularly in niche or emerging industries, position them well to adapt to shifting market conditions. Explore our latest article to learn why we believe U.S. small-cap stocks deserve renewed attention today. https://lnkd.in/gk9msdEs Capital at risk. Investments may go down as well as up and you may not get back the amount invested.

In Case You Missed It: In the latest episode of CIO Perspectives, Sidney Ahl, Erika Pagel, and Sargent McGowan from Brown Advisory discuss market resilience, AI acceleration, and shifting global investment flows. The episode covers the equity rebound fueled by trade negotiations and tech earnings, the implications of deepening AI adoption, and the outperformance of international stocks including Japan. It also explores the importance of liquidity planning for endowment clients, the evolving role of hedge strategies and fixed income, and valuation opportunities in small caps and private markets. Listen here or wherever you get your podcasts: https://lnkd.in/gZZ9rF-x

We are proud to announce the newest Principal shareholders of Brown Advisory. These individuals embody the firm's commitment to client success. More importantly, though, these colleagues have positioned themselves as key leaders within their teams and the community at-large. Congratulations, Jasmine Allen, Colin Chandler, CFA, Ryan Coddington, MBA, Malorie D’Anniballe, MBA, Julia Dembowski, Andrew Esslinger, Jonathan Garrett, Boris Getselman, Michael Greenbaum, Stephanie Herring, Brian Larkin, CFP®, Jennifer McClintock, Tanika L. McNair, FPQP™, Peter Murphy, CAIA, Justin Pickering, CSM, Daniel Prosser, Kathryn Rivera, CFP®, Emily Roy, Tyler R. Sanders, Sydney Shapiro, Jack Weatherby, Lara Wigan, and Cassandra Sullivan Wright!

It is with great pleasure that we recognize Brown Advisory's newly promoted Partner shareholders. These individuals have demonstrated a distinctive commitment to our clients, their fellow colleagues, their communities and our culture. Congratulations, Allison Brill, Courtney K. Brust, Yacine El-Mohri, Elizabeth Hiss, Jill Landefeld, MBA, Susanne Linhardt, CFA, CAIA, Jake Lubel, Chris Moran, Joshua Morehouse, MSyI, Frank O'Donnell, Victoria Schlotterback, CPA, Jillian Seifert, Roddy Seymour-Williams, CFA, Tom Simunovic, Stephanie Song, Christian Ventimiglia, CFA, and Doug Williams, CFA!

In this month's Equity Beat, Eric Gordon, CFA draws a parallel between the unpredictable conditions of the Kentucky Derby and the current US equity market. He highlights the cautious sentiment among investors, noting that the S&P 500® Index is slightly negative year-to-date despite a recent rally. Eric emphasizes the importance of adaptability for both investors and companies amid mixed impacts of tariffs, shifts in market dynamics, and growing caution in discretionary spending. Subscribe to the Equity Beat Newsletter on LinkedIn: https://lnkd.in/gJ_7Up-6 Or visit the Brown Advisory website to browse additional insights: https://lnkd.in/gyQjGY3x

We are very pleased to announce that we have opened a new office in ADGM, our first office in the Middle East. This is in response to growing regional demand for our U.S. and global investment strategies and demonstrates our commitment to Middle East based clients. Read press release here: https://lnkd.in/ejuuA-RZ

Evan Beck, CFA, congratulations on your special week competing at the Masters®. We hope there may be more in your future!